UPDATE 1-Asia Morning Call-Global Markets

Reuters Staff

12 Min Read

March 1 (Reuters) -
Stock Markets Net Chng Stock Markets Net Chng
S&P/ASX 200** 6,016 -40.9 NZX 50** 8,353.090 -20.730
DJIA** 25,029.20 -380.83 NIKKEI** 22,068.24 -321.62
Nasdaq** 7,273.009 -57.345 FTSE** 7,231.91 -50.54
S&P 500** 2,713.83 -30.45 Hang Seng** 30,844.72 -423.94
SPI 200 Fut 5,962 -39.00 STI** 3,517.94 -22.45
SSEC** 3,259.4959 -32.57 KOSPI** 2,427.36 -28.78
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Bonds Net Chng Bonds Net Chng
JP 10 YR Bond 0.049 0.002 KR 10 YR Bond 2.736 0.007
AU 10 YR Bond 2.779 -0.011 US 10 YR Bond 2.866 -0.042
NZ 10 YR Bond 2.97 0 US 30 YR Bond 3.1267 -0.048
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Currencies Net Chng Net Chng
SGD US$ 1.3246 0.0004 KRW US$ 1,082.93 2.48
AUD US$ 0.7765 -0.0025 NZD US$ 0.7208 -0.0026
EUR US$ 1.22 -0.0031 Yen US$ 106.64 -0.67
THB US$ 31.38 0.04 PHP US$ 52.049 -0.04
IDR US$ 13,740 70 INR US$ 65.2 0.29
MYR US$ 3.915 0.009 TWD US$ 29.23 -0.005
CNY US$ 6.324 0.007 HKD US$ 7.8258 -0.0015
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Commodities Net Chng Net Chng
Spot Gold 1,317.65 -0.49 Silver (Lon) 16.36 -0.06
U.S. Gold Fut 1,319 0.4 Brent Crude 65.76 -0.87
Iron Ore CNY547 4 TRJCRB Index - -
TOCOM Rubber JPY194.3 0.5 LME Copper 6,936.5 -84.5
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** indicates closing price
All prices as of 2051 GMT
EQUITIES
GLOBAL - The dollar rose to five-week highs on Wednesday on the prospect of tighter
monetary policy and an upbeat U.S. economic outlook from the Federal Reserve's new
chief, while global equity markets slid on declines in Celgene Corp and China's
Tencent.
World stocks were set to snap a record 15-month winning streak, pulled lower by
Chinese conglomerate Tencent Holdings because of its large stake in
Singapore-based Sea Ltd, an online gaming and e-commerce firm, and Celgene.
For a full report, click on
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NEW YORK - U.S. stocks sold off late to end sharply lower on Wednesday, dragged
down by worries over higher interest rates, and the Dow and S&P 500 capped their worst
months since January 2016.
The Dow Jones Industrial Average fell 382.07 points, or 1.5 percent, to
25,027.96, the S&P 500 lost 30.48 points, or 1.11 percent, to 2,713.8 and the
Nasdaq Composite dropped 57.35 points, or 0.78 percent, to 7,273.01.
For a full report, click on
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LONDON - European shares fell on Wednesday as a batch of corporate results failed
to offset concerns that U.S. interest rates could rise faster than expected.
The pan-European STOXX 600 index fell 0.7 percent, with most bourses and
sectors losing ground.
For a full report, click on
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TOKYO - Japan's Nikkei share average fell on Wednesday, snapping a three-day
winning streak, pressured by losses on Wall Street and a larger-than-expected fall in
Japanese industrial output.
The Bank of Japan's decision to trim purchases of super long bonds also soured
sentiment by boosting the yen.
The Nikkei ended 1.4 percent lower at 22,068.24 points.
For a full report, click on
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SHANGHAI - China stocks extended losses on Wednesday, with the benchmark Shanghai
index recording its worst month since early 2016, as weak factory data rekindled
worries about the country's economic health amid fears of faster rate hikes in the
United States.
For the month, Shanghai Composite Index dropped 6.4 percent, its worst
monthly fall since January 2016, while CSI300 lost 5.9 percent, its biggest monthly
slide since late 2016.
For a full report, click on
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AUSTRALIA - Australian shares are expected to extend losses and open lower on
Thursday following a decline in energy prices that took U.S. stocks lower.
The local share price index futures fell 45 points, or 0.8 percent, to
5,956, a 60-point discount to the underlying S&P/ASX 200 index close. The
benchmark finished the previous session down 0.7 percent.
For a full report, click on
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SEOUL - South Korea's KOSPI stock index and won both fell more than 1
percent on Wednesday as new Federal Reserve Chair Jerome Powell's comments stoked
market fears of faster U.S. rate rises, hurting investment sentiment on riskier assets.
At 06:32 GMT, the KOSPI was down 28.78 points, or 1.17 percent, at 2,427.36. The
index lost 5.4 percent in February, its biggest monthly loss since June 2013.
For a full report, click on
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FOREIGN EXCHANGE
NEW YORK - The dollar rose to five-week highs on Wednesday, bolstered by an upbeat
assessment of the U.S. economy from the Federal Reserve's new chairman, which raised
expectations the central bank could aggressively increase interest rates over the next
two years.
In late trading, the dollar index rose 0.3 percent to 90.657, after earlier
notching a five-week peak.
For a full report, click on
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SHANGHAI - China's yuan weakened against the U.S. dollar on Wednesday, reflecting
how the greenback gained support from Federal Reserve Chairman Jerome Powell's hawkish
tone that increased bets the United States could have four interest rate hikes this
year.
In the spot market, the onshore yuan opened at 6.3284 per dollar and was
changing hands at 6.3290 at midday, 120 pips weaker than the previous late session
close.
For a full report, click on
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AUSTRALIA - The Australian and New Zealand dollars were stuck at two-week lows on
Wednesday after markets priced in the risk of faster rate hikes in the United States,
sending Treasury yields and the U.S. currency higher.
The Aussie dollar was steady for the moment at $0.7791, having shed 0.8
percent overnight. The lapse threatened its February trough at $0.7759 where a break
would return it to territory last trod in December.
For a full report, click on
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SEOUL - South Korea's won faltered against the U.S. dollar on Wednesday.
The won was quoted at 1,082.8 per dollar on the onshore settlement platform
KRW=KFTC, 1.06 percent weaker than its previous close at 1,071.3. The currency fell 1.4
percent on a monthly basis.
For a full report, click on
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TREASURIES
NEW YORK - The spread between short- and longer-dated U.S. Treasury yields shrank
further on Wednesday after Federal Reserve Chairman Jerome Powell's optimistic outlook
on the economy raised bets the U.S. central bank may raise interest rates faster.
The spread between five-year and 30-year yields was 48.05 basis
points, tighter than 49.85 basis points late on Tuesday, Tradeweb data showed.
The two-year Treasury yield, which is sensitive to traders' view on Fed
policy, hit 2.286 percent, the highest since September 2008. It was last 2.262 percent,
down a tad from Tuesday.
For a full report, click on
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LONDON - Euro zone bond yields dropped across the board on Wednesday as inflation
in the bloc slowed, potentially complicating the European Central Bank's plan to remove
monetary stimulus and move towards raising rates.
The yield on Germany's 10-year government bond, the benchmark for the
bloc, was lower 2 basis points to 0.66 percent, well off the recent multi-year high of
0.81 percent. It is set for its first monthly fall since October, down 3 basis points.
For a full report, click on
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TOKYO - Japanese government bond prices edged lower on Wednesday as the market was
weighed down following a retreat by U.S. Treasuries.
The two-year yield rose 0.5 basis point to minus 0.160 percent and
the benchmark 10-year yield climbed 0.5 basis point to 0.045 percent.
For a full report, click on
COMMODITIES
GOLD
Gold prices steadied on Wednesday after the previous session's more than 1 percent
fall following comments by the Federal Reserve's new chairman that fueled views the
U.S. central bank would raise rates four times this year rather than three.
Spot gold was flat at $1,317.94 per ounce by 1:34 p.m. EST (1834 GMT) and
was poised to close February down 2 percent.
U.S. gold futures settled down 70 cents or 0.1 percent, at $1,317.90 per
ounce.
For a full report, click on
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IRON ORE
Chinese steel futures rose for a fourth session on Thursday to hold near their
highest in almost three months, but weak demand curbed gains.
The most active rebar on the Shanghai Futures Exchange was 0.15 percent
higher at 4,020 yuan ($635.37) a tonne. It hit an intraday high of 4,047 yuan on
Monday, its highest since Dec. 5.
Iron ore on the Dalian Commodity Exchange dropped 0.55 percent to 543
yuan a tonne.
For a full report, click on
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BASE METALS
Copper prices sank to their lowest in over two weeks on Wednesday as the dollar
advanced on prospects of higher interest rates and growth in China's manufacturing
sector slowed in February.
Benchmark copper on the London Metal Exchange fell 1.3 percent to $6,932
per tonne, its lowest since Feb. 13.
For a full report, click on
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OIL
Oil prices pared losses on Wednesday, after data showing a build in U.S. crude
inventories was tempered somewhat by a drop in U.S. crude production in December.
U.S. West Texas Intermediate crude fell 29 cents to $62.72 a barrel, a 0.5
percent decline, as of 1:03 p.m. EST (18:03 GMT). Brent crude futures for the
most active May contract were down 56 cents at $66.07 a barrel.
For a full report, click on
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PALM OIL
Malaysian palm oil futures rose to a seven-week high in trade on Wednesday evening,
extending gains into a fourth session, on support from a weaker ringgit.
Weakness in the ringgit, palm's currency of trade, usually makes the tropical oil
cheaper for foreign buyers. The Malaysian currency fell 0.2 percent against the dollar
to 3.9150 on Wednesday evening, after hitting to its weakest in two weeks earlier in
the day.
The benchmark palm oil contract for May delivery on the Bursa Malaysia
Derivatives Exchange was up 0.7 percent at 2,559 ringgit ($653.64) a tonne at the close
of trade.
For a full report, click on
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RUBBER
Benchmark Tokyo rubber futures ended flat on Wednesday as buying following gains in
Shanghai futures were offset by selling due to weaker oil prices and a stronger yen,
dealers said.
The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery,
finished unchanged at 193.8 yen ($1.8) per kg.
For a full report, click on
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(Bengaluru Bureau; +91 80 6749 1130)